Azerbaijan, Baku, Feb. 6/ Trend M. Moezzi
Iran's National Development Fund (NDF) has $27 billion in assets with a $2.5 billion ceiling in facilities allocated for the mining and industry sectors, Mehr News Agency reported.
According to the latest figures, the NDF has signed $13.5 billion in agreements with banks for payment of national funds to the private sector, said Mahmoud Dodangeh, a member of the Fund's public board.
The Fund is finalising several plans for making its resources available for a power plant, petrochemical and industry and mining projects in the coming days.
Based on Article 84 of the Fifth Five-year Socio Economic Development Plan (2011-2015), the National Development Fund was established to transform oil and gas revenues to become a productive investment for the future generation. Accordingly, 20 per cent of oil income is to be transferred to the National Development Fund and also at least 20 per cent of the NDF's sum should be allocated to promoting foreign investment.